Cairo – Mubasher: Egypt has been able to lure cross-border investments from Africa, as well as the world, due to its economic fundamental basis and the government reform programme.
The population of Egypt is expected to rise to 100 million people within two years, Renaissance Capital said in a press release.
Egypt currently enjoys a high-level of education and competitive salaries that make the North African nation able to enter the manufacturing field and become one of the biggest beneficiaries of the revived European economy in the long-term, the investment bank highlighted.
“Today Egypt looks more competitive than ever before,” CEO of Renaissance Capital MENA said.
The Arab world's most populous country aims to achieve economic development through 2030 Vision; therefore, the required growth is being bolstered to create various investment opportunities for investors in the world, Ahmed Badr added.
Renaissance Capital is overwhelmed to act as a “conduit” between investment capital and the fast-growing firms that seek development and expansion, he remarked.
The bank’s decision to open a new office in Cairo, in addition to the recent appointments in the research department for MENA, reflect that the firm is obliged to offer unprecedented levels of expertise and services via emerging and frontier markets in Europe and MENA, he continued.
The pioneer emerging and frontier markets-focused investment bank had announced the closure of the 3rd annual forum for Egyptian investors held in Cape Town, South Africa on 24-25 April.
The conference aims to provide the optimum opportunities for South African-based prominent investors to contact with senior of major Egyptian companies from different sectors, including healthcare, consumer, financial, materials and real estate to facilitate partnership and investment opportunities.
This event completes the success of the previous conferences held in 2017 and 2016.
The bank currently holds key licences for underwriting and launching initial public offering (IPOs) in Egypt.
The firm had recently announced the appointment of Ahmed Hafez as head of Cairo-based MENA Research.
Renaissance Capital recently reported a 43% year-on-year rise in net profit for the full-year 2017, recording $15.6 million.
